Que. 1 : Q1) Statement A : An ACTUARY DECIDES WHETHER TO ACCEPT THE RISK AND IF SO AT WHAT PREMIUM RATE? Statement B : An ACTUARY MAKE PERIODIC VALUATIONS OF THE FUNDS AND RESERVES OF LIFE INSURERS. Statement C : An ACTUARY CHECKS PREMIUM RESERVE IN RELATION TO INSURERS CLAIMS EXPERIENCE.
1. a) Statement A,B,C are TRUE
2. b) Statement A and B are Correct
3. c) Statement B and C are Correct
4. d) Only Statement A is correct
Que. 2 : Q2) Any transaction by a MRI with respect to buying an insurance policy will be subject to the rules laid down in________________.
1. a) The limitation act
2. b) Foreign exchange management act
3. c) Inheritance laws
4. d) Transfer of property act
Que. 3 : Q3) When the General Insurance Business Act was amended in 1999, the SIG was made_______________.
1. a) A life insurer
2. b) A general insurance council
3. c) National reinsurer
4. d) A general insurer
Que. 4 : Q4) In an insurance policy, Maturity Beneﬁt is also known as______________.
1. a) Survival Benefit
2. b) Death Benefit
3. c) Death Cover
4. d) All of the above
Que. 5 : Q5) In case of Policies which has been assigned absolutely the claim payment will be made to
1. a) Assignor
2. b) Assignee
3. c) Policy Holder
4. d) Life Assured